Victory Capital Management Inc. Buys 11,187 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Victory Capital Management Inc. grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 410,926 shares of the company’s stock after buying an additional 11,187 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of Principal Financial Group worth $31,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after purchasing an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Principal Financial Group by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock worth $112,129,000 after purchasing an additional 44,818 shares during the period. Barclays PLC lifted its holdings in shares of Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after purchasing an additional 88,179 shares during the period. AustralianSuper Pty Ltd lifted its holdings in shares of Principal Financial Group by 23.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock worth $51,509,000 after purchasing an additional 125,198 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 1.2 %

PFG opened at $85.61 on Monday. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a market cap of $19.31 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a fifty day moving average price of $82.56 and a two-hundred day moving average price of $83.28.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s payout ratio is 44.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PFG. Piper Sandler lifted their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Barclays lifted their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.